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EspÃ­rito Santo Basin

Located in the Brazilian continental margin, along the coastline of the state of Espírito Santo, the sea basin of Espírito Santo produces oil and gas in shallow and deep waters, and several marketable discoveries in ultra deep waters. In its sea portion, this basin has an area of 18,000 km² and is responsible for around 2% of oil and 7% of gas of the Brazilian production, and it also has other areas with great exploration potential.

Although the wells in the pre-salt section of the basin did not have high quality reservoirs, there remains the possibility that regions more distant from the siliciclasticsediment sources could have the necessary microbial carbonate presence, similar to those found in Campos and Santos basins.

ES-M-598 and ES-M-593 Blocks

In the 11th ANP Bidding Round, QGEP acquired a 20% share in two concessions located in Espírito Santo’s deep waters: Blocks ES-M-598 and ES-M-593.

Sub-salt, post-salt, and pre-salt section prospects have been identified. Currently, the main reservoirs are in the superior Cretaceous section and the source rocks in the Albian/Turonian section. The blocks are located in a bordering area of a mature basin that are close to a number of marketable discoveries. The fluid expected for this area is mostly light oil.

In the Minimum Exploration Program established with ANP, seismic 3D is compromised for both blocks, as well as the commitment of an exploration well in Block ES-M-598. In regards to local content, the commitment for both blocks represents 37% in the exploration phase and 65% in the production phase. 3D seismic has already been acquired and the resulting data is being processed. Drilling of the compromised well is expected in 2017.